Transfer tax rates and regulations in 2024; Be careful with taxable value!

In 2024, different rates apply to the transfer tax you must pay when you purchase an existing home. The differences are depending on your situation.

For non-starters who will use the home as their primary residence, the transfer tax is 2% of the purchase price.

Investors who will therefore not use the home as their primary residence have to pay a rate of 10.4%.

Parents who purchase a home for the purpose of having it occupied by their children also subject to this rate.

First-time buyers can be excluded from the transfer tax in 2024 when buying a property with a taxable value of up to € 510.000.

Please note the following!

Many people make the mistake (or are not correctly informed) that the purchase amount is the maximum amount instead of the taxable value. The taxable value can differ from the purchase amount due to the capitalized value of the leasehold canon and/or the reserve share in the VvE in case of an apartment right.

With our experience we do take this into account for our clients.

Furthermore, the following conditions do apply:

• You must be between 18 and 35 years old at the time of transfer.
• The property must be used as your main residence.
• You may not have previously used the exemption.
• You must fill out a statement form of the tax office to claim the exemption. The notary will attach this statement to the deed of transfer.
• The appraised value in the validated valuation report may not exceed the limit of € 510.000.

When a starter falls under this exemption it is not yet mandatory to make use of it. In some cases the buyer chooses not to take advantage of this exemption till a future purchase if the taxable value is most likely to be higher by then. This only applies when the buyer does not own any other property at the time of the future transfer.

For questions or further clarification, please contact us.